Arrested RBS forex trader named as Paul Nash -sources

LONDON Jan 8 (Reuters) - Royal Bank of Scotland
currency trader Paul Nash has become the first individual
arrested in connection with a global inquiry into alleged
manipulation in the foreign exchange market, sources familiar
with the matter said on Thursday.

Nash, who was suspended by RBS in 2013, was named by the
sources as the man arrested in Billericay, southeast England, on
Dec. 19. One of the sources said his arrest came only days
before he emigrated to Canada.

Nash emigrated to Canada on Christmas Day and has rented out
his family home, the source said. His arrest was not by
appointment, as is typical in such cases, but was an "arrest and
raid", the source added.

Nash, who has not been charged with any offence, appeared at
Westminster Magistrates' Court on Dec. 23 over variations to his
bail conditions, a court official confirmed. These included that
he would reside at a specified address in British Columbia.

Attempts to reach Nash via LinkedIn were unsuccessful.

Britain's Serious Fraud Office (SFO) said only that a
48-year-old man had appeared at the London court on Dec. 23 in
connection with a global investigation into allegations of
manipulation in the $5.3 trillion-a-day forex market.

The increasingly aggressive agency, which is preparing for
the trials this year of individuals alleged to have manipulated
global benchmark interest rates, said last July that it might
file the first charges in the high-profile inquiry this year.

About 30 forex traders have been put on leave, suspended or
fired as prosecutors and regulators continue to examine
allegations of wrongdoing in the world's largest market.
Continued...